Wisconsin Credit Unions Thank Mayor for Business Lending Support

For his support of federal legislation that would ensure small businesses can access loans through credit unions, Racine Mayor John Dickert was recently honored during the Wisconsin Credit Union League's annual Government Affairs Conference.

Dickert was recognized for helping to pass a resolution at the U.S. Conference of Mayors in support of federal legislation that would ensure small businesses can access needed loans through credit unions.

The Conference of Mayors is part of a bipartisan list of more than 30 organizations supporting the measure, including groups representing small businesses, the self-employed and the insurance, textile, realty, construction, automotive and technology industries, according to the league.

A plaque, thanking Dickert on behalf of the 95 million consumers nationwide who own credit unions, acknowledged his help in adding a bipartisan list of 187 mayors to the resolution supporting the Credit Union Small Business Jobs Bill (S.B. 2231/H.R. 1418), the league said.

"Mayor Dickert understands that credit unions can fill today's huge void for business credit because they have billions available to lend, a 100-year history of making business loans safely, the support of federal regulators and the support of 80% of Wisconsin voters who,” said Brett Thompson, president/CEO of the Wisconsin Credit Union League.

The legislation, which was introduced in the previous 112th Congress, would have increased the ability of the financial cooperatives to extend additional credit to small businesses at no cost to taxpayers, according to the Wisconsin league.

A similar version of the bill is likely to be reintroduced as part of the current 113th Congress.

In the first year alone, the Credit Union Small Business Jobs bill would have made available $14 billion in new credit and 157,000 new jobs nationwide, the league said. In Wisconsin, it would have provided $458 million in new credit and created almost 5,000 jobs.